Cash Versus Crypto
On the dark web, cryptos were the go-to currency for anyone who needed to transact. Bitcoin was mostly used or Litecoin if the deal was with the Russians.
There was a myth that bitcoin and other cryptos, in general, are untraceable, that is a misconception still believed by many, it is far from the truth.
Cryptos are not untraceable, and that is the reason why some criminals are caught while doing their transactions using cryptos.
You should note, this is not a criminals 101 class.
The reason why Cryptocurrencies can be traced is that it is decentralized, don't let the big English deceive you, decentralization doesn't mean untraceable.
Decentralization means that it is distributed, why is this good？ nobody can crash this system, it is running an "everybody has a copy" policy.
If you send some crypto to someone, everyone on the network has a copy of the transaction details, it is like those live cameras you can watch from anywhere in the world.
Why do criminals love cryptos? is it because it sounds cool and techy? definitely not, bitcoin the first cryptocurrency was made by "Satoshi Nakamoto" who is that? we don't know.
Exactly and that is why people use it, not because we don't know who the creator(s) is, but because anyone could own and use it. Your account cannot be blocked or restricted.
During the time it started becoming popular, you didn't need KYC to own a wallet and transact with it, you can create a wallet with no email address or a fake one, meaning the owner of the account is unknown or known by an alias, but if you do this and forget your password, then you are on your own.
A fake email address could be used to create a bitcoin wallet.
In the name of regularization, many platforms have domesticated bitcoin, the advantages being the ability to recover lost passwords and many more.
With the domestication of bitcoin, users can be easily tracked.
You can't go into a bank to create an account without submitting information, you could with bitcoin. Before the invention of bitcoin, people used normal transactional methods to transact on the dark web, but still the safest then and arguably the safest now is cash.
Cash is safe, but is it untraceable? Nope, it is not, they can be tracked because the serial numbers on the cash might have been recorded, that is why bait money has caught criminals, and it is why marked bills are still being used, obviously, it would be harder to trace cash, but hard doesn't mean impossible.
Another disadvantage of cash is the location barrier, if you drop off cash, it can be stolen at the drop point, the other person can pick it up and claim it was stolen, and cameras can pick you up during transactions.
The disadvantage of cash is not limited to the physical presence but also the speed of transaction, the stress and so on.
Cash and cryptos are safe to use, but they both have their advantages and disadvantages.
You can use either for illegal activities and still get caught, if you'd ask me, the best way to not get caught, is to not commit a crime.
